Asian Review of Social Sciences (ARSS)
Mediating Role of Perceived Risk on Relationship Between Perception Towards Online Luxury Shopping and Online Purchase Intention: A Study with Reference to Young Professionals in India
Author : Jithin Benedict and M. S. RajuVolume 8 No.1 Special Issue:February 2019 pp 36-41
Abstract
To many people, luxury products were once considered hard to access and a privilege to use. Luxury used to mean a product or service only accessible by a small group of people, a product or service that was scarce (Nueno & Quelceh, 1998). However, luxury products have now become more affordable to more consumers, especially for consumers from the middle class who access more money than ever before (Hauck & Stanforth, 2007). These “newcomers” do not fall into the traditional wealthy income segment; they start purchasing luxury at a younger age compared to their parents (Jay, 2012). In recent times, demand for luxury brands is spurred by digitalization. Digital platform are increasingly used by the retailers to provide ease of shopping and to extend their reachability among the customers. According to Assocham (2018) study the online luxury stores will see an influx of 44 billion dollars in 2019 and by 2020 the study foresees the market to get doubled. The study attempts to understand the relationship between perceptions of young working professionals of India towards personal luxury goods and their purchase intention. Further study delves to understand the mediating role of perceived risk of shopping luxury goods online. Structured questionnaire was framed and respondents of the age group 18 to 35 who has shopped luxury goods online were found out from online shopping sites, social media groups of online shoppers. From the analysis it has been deduced that perceived risk partially mediates the relationship between perception towards online luxury shopping and online purchase intention.
Keywords
Online Luxury Shopping, Indian Youth Luxury Shopping, Online Purchase Intention, Multiple Regression
Full Text:
References
[1] Aaker, D. (1991), Managing Brand Equity: Capitalizing on the Value of a Brand Name. New York: Free Press.
[2] Arnould, E. J., & Price, L. L. (1993). River Magic: Extraordinary Experience and the Extended Service Encounter. Journal of Consumer Research, 20(1), 24–45.
[3] Bhattacharya, C. B., & Sen, S. (2003). Consumer-Company Identification: A Framework for Understanding Consumers’ Relationships with Companies. Journal of Marketing, 67(2), 76–88.
[4] Birtwistle, G. and Tsim, C. (2005), Consumer purchasing behaviour: an investigation of the UK mature women’s clothing market. Journal of Consumer Behaviour, 4, 453–464. doi: 10.1002/cb.31
[5] Chang, P., & Chieng, M. (2006). Building Consumer – Brand Relationship: A Cross-Cultural Experiential View. Psychology & Marketing, 23(11), 927–959. doi:10.1002/mar
[6] Chadha, R. and Husband, P. (2007), The Cult of Luxury Brand, Inside Asia’s Love Affair with Luxury, London: Nicholas Brealey International.
[7] Dubois, B., & Duquesne, P. (1993). The Market for Luxury Goods: Income versus Culture. European Journal of Marketing, 27(1), 35–44.
[8] Kapferer, J. N., &Bastien, V. (2012). The Luxury Strategy (2nd editio.). Kogan Page, London.
[9] Kapferer, Jean-Noël &Bastien, Vincent (2009). The luxury strategy: breaking the rules of marketing to build luxury brands. London; Philadelphia: Kogan Page.
[10] Kim, A. J., &Ko, E. (2010). Impacts of Luxury Fashion Brand’s Social Media Marketing on Customer Relationship and Purchase Intention. Journal of Global Fashion Marketing, 1(3), 164–171. doi:10.1080/20932685.2010.10593068
[11] Nueno, J.L. &Quelch, J.A. (1998) The Mass Marketing of Luxury. Business Horizons, 41(6), 61-69.
[12] Okonkwo, U. (2009). Sustaining the luxury brand on the Internet Journal of Brand Management, 16(5-6), 302–310. doi:10.1057/bm.2009.2
[13] Okonkwo, U. (2009): Sustaining the Luxury Brand on the Internet, in: Journal of Brand Management, 16, (5/6), 302–310.
[14] Oliver, R. L. (1999). Whence Consumer Loyalty? Journal of Marketing, 63(4), 33. doi:10.23.15/1252099
[15] Phau, I. and Prendergast, G., 2000. Consuming luxury brands: The relevance of the rarity principle. Journal of Brand Management, 8 (2), 122–138.
[16] Riley, Francesca Dall´Olmo&Lacroix, Caroline (2003). Luxury branding on the internet: lost opportunity or impossibility? Marketing Intelligence & Planning; ABI/INFORM Global, 21(2), 96-104.
[17] Sung, Y., & Kim, J. (2010). Effects of brand personality on brand trust and brand affect. Psychology and Marketing, 27(7), 639–661. doi:10.1002/mar.20349
[18] Truong, Y. (2009). New luxury brand positioning and the emergence of masstige brands. Journal of Brand Management, 16(5/6), 375-382.
[19] Truong, Y., Simmons, G., McColl, R., & Kitchen, P. J. (2008). Status and Conspicuousness – Are They Related? Strategic Marketing Implications for Luxury Brands. Journal of Strategic Marketing, 16(3), 189–203.
[20] Vickers, J. S., &Renand, F. (2003). The Marketing of Luxury Goods: An exploratory study – three conceptual dimensions. The Marketing Review, 3(4), 459–478.
[21] Vigneron, F., & Johnson, L. W. (1999). A Review and a Conceptual Framework of Prestige-Seeking Consumer Behavior. Academy of Marketing Science Review, 1(1), 1–15.
[22] Wee, C.H., Tan, S.J &Cheok, K.H (1995) “Non-price determinants of intention to purchase counterfeit goods – An Exploratory Study” International Marketing Review 12(6), 19-46.
[23] Williams, M. (2001). In Whom We Trust: Group Membership As an Affective Context for Trust Development. Academy of Management Review, 26(3), 377–396. doi:10.5465/AMR.2001.4845794
[24] Wong, A.C.Y. and Zaichkowsky, J.L. 1999, Understanding Luxury Brands in Hong Kong, European Advances in Consumer Research, 4, 310-16.
[25] Wiedmann, K. P., Hennigs, N., &Siebels, A. (2009). Value-based segmentation of luxury consumption behavior. Psychology and Marketing, 26, 625–651
[26] Zhou, Z., Zhang, Q., Su, C., & Zhou, N. (2012). How do brand communities generate brand relationships? Intermediate mechanisms. Journal of Business Research, 65(7), 890–895. doi:10.1016/j. jbusres.2011.06.034
[27] Website: www.burberry.com. [Online] Available: http://www.bur berry.Com/en-row/#/en-row/about burberry/history, Retrieved: 2016-01-16
[28] Website: www.gucci.com. [Online] Available: http://www.gucci. com/ uk/uk-english/about-gucci/gucci-group.html, Retrieved: 2010-04-21
[29] Website:www.louisvuitton.com. [Online] Available: http://www.louis vuitton.com/uk/flash/index.jsp?direct1=home_entry_gb, Retrieved: 2015-09-21